PP 31-2003 Text copy _?.Back COUNTRY SHEET Republic of INDONESIA No. 69, 2003 GOVERNMENT REGULATION of the REPUBLIC of INDONESIA NUMBER 31 of 2003 on the TRANSFER FORM the OIL and GAS MINING COMPANY BUMI NEGARA (PERTAMINA) became the COMPANY'S COMPANY (PERSERO) PRESIDENT of the REPUBLIC of INDONESIA,.,, Considering: a. that as the implementation of the provisions of Act No. 22 of 2001 about oil and Gas, Mining oil and Gas Negara (Pertamina) which was created by law number 8 of 1971 need redirected its shape to become the company's Company (PERSERO); .,, b. that the transfer form the Company Pertamina (PERSERO) as mentioned in the letter a, needs to be established by regulation of the Government; .,, Considering: 1. Article 5 paragraph (2) of the 1945 Constitution as amended by the fourth Change the Constitution of 1945; ., ,2. Act No. 9 of 1969 concerning the determination of the Replacement Government Regulations Act No. 1 of 1969 (State Gazette of the Republic of Indonesia number 16 in 1969, State Gazette Supplementary Number 2890) about State Business forms into law (State Gazette of the Republic of Indonesia Number 40 in 1969, State Gazette Supplementary Number 2809); ., ,3. Law No. 1 year 1995 concerning limited liability company (State Gazette of the Republic of Indonesia number 13 in 1995, an additional State Gazette Number 3587); ., ,4. Act No. 22 of 2001 concerning oil and Gas (State Gazette of the Republic of Indonesia year 2001 Number 136, State Gazette Supplementary Number 4152); ., ,5. Act No. 17 of 2003 about State Finances (State Gazette of the Republic of Indonesia Number 47 in 2003, an additional State Gazette Number 4286); ., ,6. Government Regulation number 12 in 1998 about the company Company (PERSERO) (State Gazette of the Republic of Indonesia number 15 in 1998, an additional State Gazette Number 3731) as amended by the Government Regulation Number 45 in 2001 (State Gazette of the Republic of Indonesia year 2001 Number 68, State Gazette Supplementary Number 4101); ., ,7. Government Regulation Number 64 in 2001 about the transfer of the position, duties and authorities of the Minister of finance in the company of the company (PERSERO), Public Company (PUBLIC CORPORATION) and the company (AGREEMENT) to the Office of Minister of State owned enterprises (State Gazette of the Republic of Indonesia Number 117 in 2001, an additional Sheet country number 4137); DECIDED:.,, set: GOVERNMENT REGULATION of the TRANSFER FORM the OIL and GAS MINING COMPANY BUMI NEGARA (PERTAMINA) became the COMPANY'S COMPANY (PERSERO). CHAPTER I article 1 FORM of REDIRECTION.,, (1) mining company oil and Gas Negara (Pertamina) established by Act No. 8 of 1971 redirected its shape to become the company's Company (PERSERO) as stipulated by law No. 9 of 1969, and for the next in government regulation is called the company's Company (PERSERO). .,, (2) with the transfer form referred to in subsection (1), all rights and obligations, as well as all the other parties in the Alliance against Pertamina, switched to the company by the company (PERSERO) is concerned, all is not contrary to the Act No. 22 of 2001. CHAPTER II AIMS and OBJECTIVES article 2, (1) the intention of the company the company (PERSERO) as referred to in article 1 is to conduct business in oil and gas fields both inside and outside the country as well as other related business activities or support the business activities in the field of oil and gas. .,, (2) the purpose of the company the company (PERSERO) as referred to in article 1 is to:.,,.,, a. pursuit of profits based on the principles of the management of the company effectively and efficiently; .,, b. contribute in boosting economic activity for the welfare and prosperity of the people. CHAPTER III CAPITAL COMPANY (PERSERO) article 3, (1) the corporate Capital of the company (PERSERO) which are placed and deposited at the time of its founding, the wealth from all over the Country that are embedded in Pertamina, including a wealth of Pertamina which are embedded in the subsidiaries and joint ventures (JV) Pertamina at a time when the enactment of government regulation. ., Wealth, (2) referred to in subsection (1), does not include wealth redirected on Executing as stipulated in government regulation Number 42 in 2002. .,, (3) the magnitude of the Corporate capital of the company (PERSERO) as mentioned in subsection (1) is designated by the Minister of finance based on the results of the calculations carried out by the joint Ministry of finance and the Ministry of energy and Mineral resources. .,, (4) the initial capital while the company Company (PERSERO) established by the Minister of finance. .,, (5) other provisions concerning Corporate capital of the company (PERSERO) is set in the budget, including the provisions on the company's authorized capital of the company (PERSERO) which is divided into shares in accordance with the provisions of Regulation No. 12, 1998 as amended by the Government Regulation Number 45 in 2001. CHAPTER IV IMPLEMENTATION of the ESTABLISHMENT of the COMPANY the COMPANY (PERSERO) implementation of article 4 of the founding Companies of the company (PERSERO) as referred to in article 1, is carried out according to the conditions set forth in law No. 1 year 1995 concerning limited liability company, having regard to the conditions set forth in a Government Regulation number 12 in 1998 about the company Company (PERSERO) as amended by the Government Regulation Number 45 in 2001 and the provisions of the applicable legislation.

Article 5 the completion of the establishment of the company the company (PERSERO) as referred to in article 4 are performed by the Minister of finance.

Chapter V miscellaneous PROVISIONS article 6.,, (1) the company the company (PERSERO) able to carry out the assignment from the Government in the provision and service of fuel oil for domestic needs. .,, (2) in the case of companies the company (PERSERO) of carrying out the assignment referred to in subsection (1), quantity of compensation arising from the assignment set by the Minister of Finance upon proposal of the Minister whose duties and responsibilities include the fields of oil and gas. .,, (3) the work plan and financial reporting in the framework of the assignment referred to in subsection (1), is made separately in a work plan, budget and financial report of the company the company (PERSERO). Chapter 7.,, (1) at the time of the company's Company (PERSERO) stands, business activities in the field of geothermal implemented by Pertamina, and implemented through cooperation operation by Pertamina, switched to the company by the company (PERSERO). .,, (2) within a period of not longer than 2 (two) years since the company's Company (PERSERO) was established, business activities in the geothermal field is implemented by the Company (PERSERO) as mentioned in subsection (1), be transferred to a subsidiary Company set up by the company (PERSERO). Article 8 at the time of establishment of the company the company (PERSERO), all subsidiaries and a joint venture of Pertamina which perform business activities related directly or support directly with business activities in the field of oil and gas switch into subsidiaries and a joint venture Company (PERSERO).

Article 9.,, (1) with the transfer form referred to in article 1, the entire worker Pertamina Company workers become the company (PERSERO). .,, (2) with the transition referred to in subsection (1), the rights and obligations between Pertamina Pertamina workers regarding status, norms and terms of employment, wages and other earnings, severance and/or recognition of devotion, as well as pension benefits become rights and obligations between the Company (PERSERO) with the company's workers Company (PERSERO). Article 10 at the time of the company's Company (PERSERO) stood up, all of the workers of subsidiaries and joint ventures as referred to in article 8 the workers remained a subsidiary or joint venture in question.

CHAPTER VI TRANSITIONAL PROVISIONS article 11 at the time this Regulation comes into force, the whole terms of Pertamina, including organizational structures the placement of workers in organizations, guidelines and work as well as the grammar of other matters related to the implementation of the duties and responsibilities of Pertamina, all not contrary to this Regulation, otherwise remain in force until the establishment of new terms by the company the company (PERSERO).

CHAPTER VII PROVISIONS COVER article 12 further Provisions necessary for the implementation of this Regulation is governed by the Minister of finance, Minister of State-owned enterprises, and the Minister of energy and Mineral resources together.

Article 13 this Regulation comes into force on the date of promulgation.

In order to make everyone aware of it, ordered the enactment of this Regulation with its placement in the State Gazette of the Republic of Indonesia.

.,, Set in Jakarta on June 18, 2003 the PRESIDENT of the Republic of INDONESIA, MEGAWATI SUKARNOPUTRI Enacted in Jakarta on June 18, 2003 SECRETARY of STATE of the REPUBLIC of INDONESIA, BAMBANG KESOWO

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